Distinguish between consumer surplus and producer surplus.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (17 reviews)
Consumer surplus producer surplus refers to the difference betwe...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What happens to consumer and producer surplus when the sale of a good is taxed? How does the change in consumer and producer surplus compare to the tax revenue? Explain.
-
Using Figure, show the effect on consumer and producer surplus of the sugar import quota (relative to free trade). Also show the changes in consumer and producer surplus in RoW.
-
How does MC1R Protein Synthesize?
-
Is the addition of Br2 to an alkene such as trans-2-pentene a stereoselective reaction? Is it a stereospecific reaction? Is it an enantioselective reaction?
-
Those which do not have an established market and which are used as substitutes for other materials. LO.1
-
2. Develop a work breakdown structure.
-
Who owns a corporation? Describe the process whereby the owners control the forms management. What is the main reason that an agency relationship exist in the corporate forms of organization? In this...
-
Suppose that each week, you make a $115 payment toward a 13-year loan whose annual rate is 5.1%. How much was the loan for?
-
A student drops a small black sphere alongside a vertical scale marked in centimetres. A number of flash photographs of the sphere are taken at 0.10 s intervals: The first photograph is taken with...
-
Under what conditions does a nominal tariff applied to an import product overstate or understate the actual, or effective, protection afforded by the nominal tariff?
-
Which of the arguments for tariffs do you feel are most relevant in todays world?
-
Given the sample data from Exercise 2, which of the following are not possible bootstrap samples? a. 12, 19, 13, 43, 15 b. 12, 19, 15 c. 12, 12, 12, 43, 43 d. 14, 20, 12, 19, 15 e. 12, 13, 13, 12,...
-
Carrie enjoyed observing wildlife in natural habitats. She wanted to be able to hide at a distance but observe wildlife close up in a variety of circumstances. She visited five different shops and...
-
The operating budget for a certain company shows a net income of $350,000. To achieve this, the company is targeting sales of $637,000, variable costs of $280,280, and fixed costs of $6,720. Compute...
-
What is the output? for (i=0; i
-
a) For silicon, if EG decreases by 0.078 eV, by what fraction does n; increase (assume T is constant at 300K)? b) If the temperature rises from 300K to 600K, by what additional fraction does n;...
-
LOTR (1p) Frodo and Sam need to get to Mordor to destroy the One Ring, but they don't know the exact way. They met a creature called Gollum who claims to know the best way to Mordor. Gollum is...
-
What are three hardware components essential to effective Internet operations? What are their functions?
-
Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. Pair each item from List A (by letter) with the item from List B that is...
-
To what standard of care is a specialist held? National or local?
-
France, in addition to its occasional stabs at strategic trade policy, pursues an active nationalist cultural policy that promotes French art, music, fashion, cuisine, and so on. This may be...
-
The fundamental problem with any attempt to limit climate change is that the countries whose growth poses the greatest threat to the planet are also the countries that can least afford to pay the...
-
Many countries have value-added taxes-taxes that are paid by producers, but are intended to fall on consumers. (Theyre basically just an indirect way of imposing sales taxes.) Such value-added taxes...
-
Practice Problem 1 The stockholders equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,400 shares authorized) $264,000 Common Stock...
-
JVCU Which of the following is considered cash for financial reporting purposes? 1 JVCU Which of the following is considered cash for financial reporting purposes? 1
-
Required information The Foundational 15 [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, L08-10) (The following information applies to the questions displayed below.) Morganton Company makes one product...
Study smarter with the SolutionInn App